The summer box office has seen an unexpected shake-up, with two low-budget horror films, Backrooms and Obsession, outperforming big-budget blockbusters like Masters of the Universe and Star Wars: The Mandalorian and Grogu. This shift has sparked discussions about the future of Hollywood's reliance on established intellectual property (IP).
Backrooms, directed by 20-year-old Kane Parsons and starring Chiwetel Ejiofor and Renate Reinsve, earned $81m (£61m) in its US opening weekend, with a total of $135m (£101m) domestically. Its budget was just $10m (£7.5m). Obsession, directed by 26-year-old Curry Barker, has taken $152m (£114m) in the US and $225m (£169m) globally, on a budget of $1m (£750,000). It is the first film since ET in 1982 to see its takings increase in its second and third weekends.
In contrast, Masters of the Universe, based on 1980s toys, made only $29m (£21.7m) on its opening weekend, while The Mandalorian and Grogu earned $10m (£7.5m) this weekend. Both films had budgets of $165m (£124m) and $200m (£150m) respectively, requiring $300m-$400m to break even.
Kayla Cobb of The Wrap noted, 'The traditional film industry has focused on reheating the same tired IP, but audiences – particularly Gen-Z audiences – are craving more original movies.' Both directors learned their craft through YouTube shorts, with Parsons creating his Backrooms web series at age 16, which has since garnered 81 million views.
The success of these indie horrors suggests a potential shift in audience preferences, challenging the dominance of big-budget franchises. As both films continue to perform well, Hollywood may need to reconsider its reliance on expensive IP-driven projects.
